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or tax rises and balance the budget over a longer timescale. a plan that, even at the end of this parliament, will see public spending account for 42 per cent of gdp -- higher than at any point between 1995 and 2008 when the banks collapsed. and a plan that, because it commands the confidence of the markets, has given us the room to create a business bank, provide billions of pounds of infrastructure and house building guarantees and an £80 billion funding for lending scheme -- the biggest of its kind anywhere in the world. of course so much of this is about perception. people keep telling me we should be doing what barack obama did with his fiscal stimulus. what they don't tell you is that much of what the president had to legislate for, we are already doing automatically. so let's not allow the caricature of what we are doing go unchallenged. if plan a really was as rigid and dogmatic as our critics claim, i'd be demanding a plan b, and getting danny and vince to design it. but it isn't. which is why you were right, earlier this week, to overwhelmingly reject the call f
. we will send 3 billion pounds, increasing the tax reallowance. with 50 million pounds. recouping five times that amount. i insisted, on the first and i conceded on the second. i stand by the package as a whole. as liberals we want to see the tax on work reduced, and the system as a whole, for those with middle incomes. let me make one thing clear. we have brought this level down, and this is still higher than the route labour's 13 years in office. and it will be reduced further in this parliament. [applause] all of the future cuts in taxation, as part one will clearly a test, to help people on low and middle income get on. all the parties will have to knowledge -- acknowledge this and that is inescapable. but who will have to tighten their belts the most? if we have to tell people to take less out, we will start with the richest and work our way down. we will do this in our own way. we will not gather ourselves to a detailed spending plan, and we should be proud of the fact airerwe have delivered f taxes and we are taking 2 million people out of income tax together. with more than 20
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